Varonis Systems (NASDAQ:VRNS) Stock Rating Upgraded by StockNews.com

Varonis Systems (NASDAQ:VRNS - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Monday.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company reduced their target price on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Cantor Fitzgerald assumed coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an "overweight" rating and a $60.00 price objective for the company. Wolfe Research raised Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research note on Friday, March 28th. Piper Sandler reduced their price objective on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS traded down $0.13 on Monday, hitting $42.71. The company's stock had a trading volume of 642,300 shares, compared to its average volume of 1,519,748. The stock's 50-day moving average is $41.09 and its two-hundred day moving average is $45.85. Varonis Systems has a 12 month low of $36.53 and a 12 month high of $60.58. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of -49.66 and a beta of 0.76. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. On average, equities research analysts forecast that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems declared that its Board of Directors has initiated a share repurchase plan on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Varonis Systems

Several large investors have recently made changes to their positions in VRNS. Mutual of America Capital Management LLC grew its holdings in shares of Varonis Systems by 0.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 85,255 shares of the technology company's stock valued at $3,449,000 after buying an additional 284 shares during the period. Tower Research Capital LLC TRC boosted its stake in Varonis Systems by 7.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company's stock worth $193,000 after purchasing an additional 298 shares during the period. Teza Capital Management LLC boosted its stake in shares of Varonis Systems by 3.1% during the 4th quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company's stock worth $437,000 after buying an additional 299 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Varonis Systems by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company's stock worth $512,000 after buying an additional 365 shares during the last quarter. Finally, Bailard Inc. boosted its stake in shares of Varonis Systems by 0.4% during the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock worth $4,160,000 after buying an additional 417 shares during the last quarter. Institutional investors own 95.65% of the company's stock.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.